Cybersecurity anxiety and how to treat it

It takes only one compromised computer to bring down an entire network. Hackers could easily spread malware using exploits like remote code execution or brute force attacks to infiltrate networks. With these, a device might be even hacked without users falling prey to social engineering schemes or other nefarious acts.

This troubling fact is enough to keep cybersecurity pros up all night because whether cybercrime is done to steal account credentials, leak sensitive information, destroy data, or ruin reputations, its impact can cause immeasurable damage to a company. Hacked companies suffer massive financial loss as well as damaged customer loyalty in the aftermath of a data breach. According to the 2019 Cost of a Data Breach Report, the average total cost of a data breach in Canada is $4.44 million.

Organizations are taking cybersecurity more seriously these days, but theirs is an uphill climb because:

• Cyberattacks are always evolving to be one step ahead of the data security sector
• Cybersecurity job fatigue is becoming a growing, troubling problem
• There is a cybersecurity skills shortage, with demand greatly dwarfing supply
• Tight budgets prevent IT departments from implementing sophisticated cybersecurity tools and strategies
• More and more governments and industry associations are enacting data privacy regulations
• Even companies as large and as sophisticated as LifeLabs can fail to protect their customers’ data

It’s no wonder business managers and owners are riddled with cybersecurity anxiety — the feeling of worry or panic amidst an imminent flood of data security problems. However, despite things looking bleak, there are ways to find relief. Let’s take a closer look:

Focus on what you can do

Develop your company’s risk management plan. Keep in mind that some threats can only be mitigated and not totally eliminated, even if these are detected in advance. Factor in your budget to come up with action steps your business can actually accomplish. To illustrate, low-cost cybersecurity strategies include:

• Training employees on cybersecurity best practices
• Implementing multifactor authentication (MFA)
• Creating a password management plan
• Using a secure backup plan
• Changing or updating policies around mobile devices and cloud storage

Maintain a positive attitude

While there’s good reason to be worried, it won’t help to dwell on negative thoughts. Instead, think that IT specialists are working round-the-clock to develop solutions to thwart cybercriminals. When cybersecurity patches become available, show gratitude for the specialists’ hard work by applying their patches as soon as possible.

Additionally, take comfort in the fact that even the Canadian government has got your back. Did you know that it offers plenty of resources and support for small- to medium-sized businesses such as yours? Check out https://www.cyber.gc.ca/en/ to learn more.

Accept that you cannot control everything

Stop stressing over what you cannot control. Can you stop hackers from developing new malware? No. Is it realistic to expect that software programs be totally free of vulnerabilities when you purchase them? No. The earlier you accept that some external threats fall outside your control, the earlier you’ll know what you can prepare for. Cover the rest with cyber liability insurance.

Seek support

You don’t have to carry all the burden alone. Partner up with XBASE Technologies for your needs. Talk to our consultants to learn more about our Exponentially Better™ Cybersecurity services today.